When it comes to a business regardless of the industry, being successful is the main goal at times. A successful business starts with a marketing strategy. In a previous post, I spoke about how Rose and my business, Tana Ava Taylor Adoption, used out of the box marketing to our business. For marketing purposes, the most important thing to remember your ROI which is the Return on Investment. Only problem is that when a business hires a market, most marketers cannot measure the marketing ROI for a business.
For a business’s marketing strategy to work there are several factors to implement. ROI, SEO/SEM, engagement, the target audience, and services. I took a look at the Hasbro case study that showed how marketing can work for any industry.
The Hasbro Case Study
Hasbro is a household name when it comes to family board games and toys. This is brand that understand how marketing works and applied it to the business in order to become on of the leading toy and game companies in the world.
For the case study, the Amp Agency analyzed how Hasbro implemented marketing to grow a profitable business. The study took into account the paid and organic search marketing known as SEO and SEM, dynamtic online advertising, and digital social platform marketing data for the various brands under the Hasbro umbrella. Amp Agency narrowed down what was successful marketing for the company and what was not.
In this case study, Amp gathered a 3-part plan to gain insight for the Hasbro brand.
The plan consisted of:
Step 1: Purchase navigation analysis
It is understandable that some small businesses cannot afford an digital marketing agency in the beginning, which is why I wanted to show the steps that the Amp Agency took. Once a company can hire a digital marketing agency, the agency will have a specialized set of skills from their experienced team members that you may not have.
A third-party data software was used to analyze the online browsing history behavior of Hasbro’s customers before made a purchase. This data helped because it shows what factors influenced the customer to buy from Hasbro.
When a prognosis is made about the about how the customer navigates through their online shopping before checkout, it created a visual for Hasbro on where to specially invest money on their marketing budget.
Step 2: Engagement behavior analysis
Once the shopping behavior before making a purchase has been reviewed, another data report analysis is observed on what the customers did while on the Hasbro site. The content that the customer looked at on the site was reviewed as well as the content that headed the conversions, and the content that affected the conversions negatively.
An advanced predictive model technique was used to observe the customer’s behavior while on the Hasbro sites. Many may have noticed this when doing online shopping themselves because an add-on pop-up will generate, or suggestions based on what you viewed will be available for review before your purchase. Not to mention social media pulling up ads that relate to what you as a consumer recently viewed. The purpose of this analysis is to create suggestions on what other content can be made available to the customer to effectively guide them through the purchase experience.
This gave Hasbro insight on what needed to be evaluated and changed when it comes to their content strategy, UX/UI, and design concepts to improve conversions.
Step 3: Contributing factor analysis
The final stage into the case study used an econometric model technique to evaluate the media asset, which gave insight into the ROI date of the various marketing channels used. The data acquired helped Hasbro get a clear understanding of how all the marketing channels that were being implemented worked together in order improve the conversion rates on the site.
The results received from the agency gave a better understanding for their client, Hasbro, about the entire customer experience from beginning to end. The same marketing structure can be applied to all businesses to grow. Obtaining the data from the behavioral patterns of [your] customers during the browsing phase, taking in account the patterns that the customer demonstrates during their interactions with the site before the final transaction, and understanding how each marketing structure is cohesive to the other, allows a business to properly manage their marketing budget to receive a better ROI.
A business does not have to hire a digital marketing agency to gain the insights in the above case study. Obtaining the right tools can help you analyze your business data and target audience behavior. As mentioned before Tana Ava Taylor Adoption used different marketing structures that were not the norm in order to flourish. No matter if a business follows the traditional marketing plans or another, marketing can be used in any industry.